Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Down - What's Next?

Key Points

• Nano Nuclear Energy Inc. shares gapped down from $46.31 to open at $43.08, with recent trading at $43.59 and a volume of over 2 million shares.
• Wall Street analysts express mixed opinions, with a consensus rating of "Moderate Buy" and an average price target of $41.25, while one firm downgraded its target from $51.00 to $9.00.
• The firm recently reported an EPS of (–$0.19), surpassing estimates, but is projected to have a yearly EPS of (–0.92).

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $46.31, but opened at $43.08. Nano Nuclear Energy shares last traded at $43.59, with a volume of 2,001,605 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NNE shares. Northland Securities started coverage on shares of Nano Nuclear Energy in a report on Monday, July 7th. They issued an "outperform" rating and a $40.00 target price on the stock. BTIG Research assumed coverage on shares of Nano Nuclear Energy in a report on Thursday, August 28th. They set a "neutral" rating on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Nano Nuclear Energy in a report on Thursday, July 10th. They set a "buy" rating and a $51.00 price target on the stock. Northland Capmk raised shares of Nano Nuclear Energy to a "strong-buy" rating in a report on Monday, July 7th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $50.00 price target on shares of Nano Nuclear Energy in a report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $51.75.

Nano Nuclear Energy Trading Down 1.9%

The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -48.16 and a beta of 7.06. The stock's 50-day moving average price is $35.02 and its 200-day moving average price is $30.82.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. As a group, analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Trading of Nano Nuclear Energy

Several hedge funds have recently modified their holdings of NNE. Hood River Capital Management LLC bought a new stake in shares of Nano Nuclear Energy in the 2nd quarter valued at $31,935,000. Vanguard Group Inc. increased its stake in shares of Nano Nuclear Energy by 44.4% in the 1st quarter. Vanguard Group Inc. now owns 990,024 shares of the company's stock valued at $26,196,000 after acquiring an additional 304,405 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Nano Nuclear Energy in the 4th quarter valued at $4,544,000. Exchange Traded Concepts LLC bought a new stake in shares of Nano Nuclear Energy in the 2nd quarter valued at $6,269,000. Finally, Nuveen LLC bought a new stake in shares of Nano Nuclear Energy in the 1st quarter valued at $2,574,000.

Nano Nuclear Energy Company Profile

NANO Nuclear Energy, Inc is a microreactor and nuclear technology company, which provides supply energy services. Its products in technical development are ZEUS, a solid core battery reactor, and ODIN, a low-pressure coolant reactor. The company is founded by Jiang Yu in February, 2022 and is headquartered in New York, NY.